The biggest risk facing most young people is loss of jobs and debts; not critical illness or premature death.
It is important for young people to set aside savings, and to keep them in a flexible form, so that the savings can be withdrawn in an emergency. They should buy a property that is affordable, not more than 5 years of income.
They should avoid putting their savings in an inflexible life insurance policy that imposes a penalty for early withdrawals.
To avoid these risks, they should attend the talk on financial planning conducted by FISCA,
Or read my book on financial planning